Corporate Law

18-Year-Old Aces Calif. Bar, Wins 1st Trial

An 18-year-old graduate of the UCLA School of Law is en route to become not only the youngest lawyer in the state but possibly the country. Kathleen Holtz, who learned Friday that she passed the California bar, has already been part of a winning trial team, reports the Wall Street…

Nov 19, 2007 8:50 PM CST

Auditors’ Quest for Legal Documents Could Risk Exposure

Auditors complying with post-Enron laws are increasingly asking for legal documents, putting the material at risk for disclosure in lawsuits. When confidential documents are shown to outside parties, they are no longer protected from disclosure by the attorney-client privilege, the New York Times explains. Only around 30 states protect the…

Nov 16, 2007 4:37 PM CST

Kansas Utility Owes CEO $2.46M in Defense Costs

Echoing a similar holding by a federal judge concerning another company executive, a special master in Kansas state court has found that a utility company wrongly refused to pay $2.46 million in legal fees to defend its former chairman and CEO in a criminal fraud case. The utility, Westar Energy…

Nov 15, 2007 7:17 PM CST

Are New U.S. Accounting Rules Bad News for Banks?

The last few months have not been good ones for the global banking industry, as rapidly rising mortgage defaults sparked a credit crisis. But the situation may get even worse before it gets better. And, if so, new U.S. accounting standards may be one big reason why, a British columnist…

Nov 12, 2007 8:10 PM CST

William Lerach Goes Down Fighting With WaPo Commentary

Securities class-action lawyer William Lerach, who pleaded guilty to paying kickbacks to lead plaintiffs, takes aim at sweet deals for corporate CEOs who lose shareholder money in a commentary published in the Washington Post. Lerach complains that he is being held “accountable for overzealously pursuing these corporate scam artists” while…

Nov 12, 2007 7:11 PM CST

Fenwick Hires Nonlawyer as Venture Fund Matchmaker

Fenwick & West has taken the unusual step of hiring a nonlawyer to help introduce startup clients to venture capital funds. Darrell Kong will also help refine business plans for startups, the Recorder reports. The Mountain View, Calif., law firm hopes Kong will help it double its venture-backed clients by…

Nov 12, 2007 11:59 AM CST

‘Attorney at Blah’: JD Earns Extra $20/Hour in Doc Review

CORRECTED: The job is similar, but the pay is different: temp work, in something akin to document review, without a law degree, is dull, thankless work that earns $10 an hour. With a juris doctor degree and a bar admission, temp work brings in $35 an hour–enough to earn a…

Nov 9, 2007 10:44 PM CST

Insurance Brokerage: Possible Industry Bribery Issues

An insurance brokerage says it is receiving inquiries from federal investigators about possible bribery issues. And it doesn’t appear that Aon Corp. is the only such company being queried, reports Bloomberg. Aon has reportedly hired an unspecified law firm to look into the matter and make sure it is in…

Nov 9, 2007 9:30 PM CST

Ace Private Equity Attorney: Super-Smarts Aren’t a Job Requirement

Charlie Geffen readily admits he’s something of a workaholic. But, the British lawyer says, it doesn’t take an academic whiz to be one of the world’s most successful private equity practitioners. Instead, diligently learning the rules is what it takes to get through law school, and, especially in his practice…

Nov 9, 2007 4:58 PM CST

N.Y. Mortgage Appraisal Probe Spotlights Fannie Mae & Freddie Mac

Updated: New York’s top law enforcement officer obviously isn’t afraid to take on the big guys. Having filed suit last week against one of the nation’s biggest mortgage lenders over an alleged scheme to promote inflated appraisals, in alleged violation of lending regulations, state Attorney General Andrew Cuomo is now…

Nov 7, 2007 9:12 PM CST

CA Jury Gives 6 Banana Workers $3.3M

A California jury has awarded $3.3 million to six Central American laborers who say they suffered health problems as a result of a pesticide used by the American company in the 1970s on the banana plantation on which they worked. However, another six laborers among the plaintiffs in the groundbreaking…

Nov 6, 2007 12:30 AM CST

BigLaw Relaxing Bank Suit Standards?

As the subprime mortgage meltdown and a resulting global credit crunch have created a surge of litigation against lenders, some of the world’s major law firms are caught in a quandary. Traditionally, they have represented banks. But now that litigating against banks is a hot practice area, many are relaxing,…

Nov 5, 2007 11:18 PM CST

Aussie Lawyer to Clients: Don’t Flush Fees Down the Gurgler

An Australian lawyer has written a book about the top 10 mistakes that small and medium-size businesses frequently make in their legal matters. And among the mega-mistakes, he says, is spending money on litigation. For the best-represented clients, the focus should be on talk rather than legal action, writes Paul…

Nov 5, 2007 6:35 PM CST

Oops: Top Lateral Lured from UK Rival is Retiring

The London office of Hogan & Hartson reportedly has been stunned by the news that the head of its city corporate team—a partner it stole from rival Shearman & Sterling’s London office less than 18 months ago—is leaving law practice. Although Jonathan Coppin announced last month that he planned to…

Nov 5, 2007 5:44 PM CST

Outside Law Firms Still Don’t Get It, In-House Counsel Say in Survey

Although the law firms doing corporate work understand that they need to focus on servicing the needs of in-house counsel, they still don’t know how to do so. That is the gist of what in-house counsel say in a recent survey, according to Fred Krebs, the president of the American…

Oct 31, 2007 6:10 PM CDT